Corner Storefront with Rear
For Sale
$379,900
12259 S Halsted St, Chicago, IL 60628
Brick retail building with a concrete floor, updated roofing, air conditioning, and paved parking behind the property.
Property Size1,716 SF
Price / SF$221.39
Days on Market12
Property Features for 12259 S Halsted St
General Information
Standard status
Active
Size
1,716 SF
Additional Details
Corner Location
Yes
Building Details
Year Built
1952
Construction
brick
Listing Agency:
Choice Realty Group Inc.
(847) 912-1592
Listed By:
David Williamson · License #471010481
Source:
Grandviewrealtyservices
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 30 at 7:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Choice Realty Group Inc.
Investment Insights
Based on property information with market context.
This brick storefront building contains 1,716 square feet and was constructed in 1952. The retail-oriented space has a concrete floor, an air-conditioning unit, and a recently installed rubber roof. The property is being offered in its existing condition.
Positioned at the northeast corner of S Halsted St and another main street, the building sits at a signalized intersection. Paved parking is located behind the structure, adding practical support for the storefront layout. The property is located at 12259 S Halsted St in Chicago, Illinois 60628. No survey is provided.
Positioned at the northeast corner of S Halsted St and another main street, the building sits at a signalized intersection. Paved parking is located behind the structure, adding practical support for the storefront layout. The property is located at 12259 S Halsted St in Chicago, Illinois 60628. No survey is provided.
Key Highlights
- 1,716‑square‑foot brick storefront building
- Northeast corner at a signalized intersection
- Concrete floor and air‑conditioning unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,741
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$474,820
$474.8K
Cap Rate 7%
$339,157
$339.2K
Cap Rate 9%
$263,789
$263.8K
Market Conditions
NOI Build-Up for 1,716 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.1K $21.60/SF
− Vacancy
−$3.2K −$1.84/SF
EGI
$33.9K $19.76/SF
− OpEx
−$10.2K −$5.93/SF
NOI
$23.7K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$474,820
Cap Rate 7%
$339,157
Cap Rate 9%
$263,789
Alternative Uses
Best Use
Retail
$339.2K
$296.8K – $395.7K
NOI $23,741 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$809.1K
$708.0K – $943.9K
NOI $56,636 @ 7.0% cap · market cap 14.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
20k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Apparel 23%
Citgo
Shops & Services
7,931 visits/mo
0.1 miles
Family Dollar
Shops & Services
6,730 visits/mo
0.4 miles
Citi Trends
Apparel
4,549 visits/mo
0.4 miles
AAMCO Transmissions
Shops & Services
550 visits/mo
0.1 miles
Demographics for 60628, IL
62,832
Population
28,736
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
87%
High-School Grad
11.0 sq mi
ZIP Area
5,712
Density / Sq Mi
$49,719
Median Household Income
$35,974
Median Earnings
$1,168
Median Rent
$158,500
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Brick retail building with a concrete floor, updated roofing, air conditioning, and paved parking behind the property.
Where is this storefront property located?
The property is located at 12259 S Halsted St Chicago, IL.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 1,716‑square‑foot brick storefront building; Northeast corner at a signalized intersection; Concrete floor and air‑conditioning unit
